In procurement auctions, bidders are usually better informed about technical, financial, or legal aspects of the goods … question of the value added of letting the sourcing process consist of both an auction and a negotiation stage, theoretically … auction is beneficial to the buyer compared to no communication and ex-ante communication. In a setting where the buyer and …

If a government auctions the right to market a good, continuity is likely to be of significant importance. In a … laboratory experiment, we compare the effects of bidders' limited liability in the first-price sealed-bid auction and the English … auction in a common value setting. Our data strongly reject our theoretical prediction that the English auction leads to less …

We study the relative performance of the first-price sealed-bid auction, the second-price sealed-bid auction, and the … all-pay sealed-bid auction in a laboratory experiment where bidders can signal information through their bidding behaviour …-bid auction in which the bidders’ payments are revealed outperforms the other mechanisms in terms of revenue, while this mechanism …

farm auctions and evaluates the impact of price guarantees and subsidies on auction efficiency, government revenue, and …Globally, governments increasingly rely on auctions to advance renewable energy. This paper studies the design of wind … guarantee, and hence with more uncertainty in the auction, this increases the chances that risk-loving bidders win the auction …

Sellers in real-estate markets, on internet platforms, in auction houses, and so forth, routinely pose non …-binding price requests. Using a laboratory experiment, we examine how competition moderates the way such cheap-talk communication … competition, although some of them become weaker. Our main findings are the following: (i) The ability of sellers to make non …

-price dimensions after the auction. Both auctions theoretically implement the surplus maximizing mechanism. Our experiment confirms …In this note, we experimentally examine the relative performance of price-only auctions and multi-attribute auctions … this result. Moreover, we observe that the “pie” is shared the same in both auctions between buyer and suppliers both in …